A10093 Summary:

BILL NO    A10093A

SAME AS    SAME AS S07870

SPONSOR    Rules (Russell)

COSPNSR    

MLTSPNSR   

Add Art 7-A SS197-a - 197-c, Ec Dev L; amd S1005, Pub Auth L

Enacts the "Northern New York power proceeds allocation act"; establishes the
five member northern New York power proceeds allocation board to review and
recommend applications for fund benefits pursuant to certain criteria set
forth; makes related provisions.
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A10093 Actions:

BILL NO    A10093A

06/13/2014 referred to energy
06/16/2014 amend and recommit to energy
06/16/2014 print number 10093a
06/16/2014 reference changed to ways and means
06/18/2014 reported referred to rules
06/18/2014 reported 
06/19/2014 rules report cal.514
06/19/2014 ordered to third reading rules cal.514
06/19/2014 passed assembly
06/19/2014 delivered to senate
06/19/2014 REFERRED TO RULES
06/20/2014 SUBSTITUTED FOR S7870
06/20/2014 3RD READING CAL.1582
06/20/2014 PASSED SENATE
06/20/2014 RETURNED TO ASSEMBLY
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A10093 Memo:

BILL NUMBER:A10093A

TITLE OF BILL:  An act to amend the economic development law and the
public authorities law, in relation to enacting the northern New York
power proceeds allocation act

Purpose:  The bill would create a program funded by the sale of
certain unallocated hydropower produced by the Power Authority of the
State of New York ("NYPA") at its St. Lawrence-FDR Power Project to
support economic development in St. Lawrence County.

Summary of Provisions:

Section 1 of the bill provides that the bill would be known as the
"Northern New York Power Proceeds Allocation Act" ("Act")

Section 2 of the bill would add Article 7-A to the Economic
Development Law ("EDL") consisting of EDL SS 197-a, 197-b, and 197-c.
EDL S 197-a would define terms for purposes of EDL Article 7-A. EDL
197-b would create the Northern New York Power Proceeds Allocation
Board ("Allocation Board"), which would consist of five members, three
of whom must reside in St. Lawrence County. EDL S 197-c would
establish the powers and duties of the Allocation Board and NYPA and
describe the procedures governing applications for fund benefits, the
evaluation of applications, and the award of fund benefits.

Section. 3 of the bill would add subdivision 24 to Section 1005 of the
Public Authorities Law ("PAL"), which would provide for the creation
of the "Northern New York Economic Development Fund," as well as
NYPA's duties and responsibilities regarding the Fund and other
aspects of the program created in EDL Article 7-A.

Section 4 of the bill provides that the bill would-be effective
immediately:

Existing Law:  PAL S 1005 establishes NYPA's existing powers and
duties.

Statement in Support:  Chapter 58 of the Laws of 2012 (Part GG),
enacted the Western New York Power Proceeds Allocation Act and created
a program to support eligible economic development projects located or
proposed to be located in western New York funded by the sale of
certain unallocated hydropower produced by NYPA at its Niagara Power
Project.

This bill would create a similar program to support eligible economic
development projects located or proposed to be located in St.
Lawrence County by eligible applicants. As more specifically provided
for in the bill, this program would be funded by the sale of certain
unallocated hydropower produced by NYPA at its St. Lawrence-FDR Power
Project which has been made available to the Town of Massena Electric
Department under a contract with NYPA entered into in 2012 entitled
"Agreement Governing the Sale of St. Lawrence-FDR Project Power and
Energy' to the Town of Massena Electric Department for Economic
Development Purposes."

Budget Implications:  None.


Effective Date:  This bill would take effect immediately.
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A10093 Text:

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________

                                       10093--A

                                 I N  A S S E M B L Y

                                     June 13, 2014
                                      ___________

       Introduced  by COMMITTEE ON RULES -- (at request of M. of A. Russell) --
         (at request of the Governor) -- read once and referred to the  Commit-
         tee on Energy -- committee discharged, bill amended, ordered reprinted
         as amended and recommitted to said committee

       AN  ACT to amend the economic development law and the public authorities
         law, in relation to enacting the  northern  New  York  power  proceeds
         allocation act

         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:

    1    Section 1. Short title. This act shall be known and may  be  cited  as
    2  the "northern New York power proceeds allocation act".
    3    S  2.  The economic development law is amended by adding a new article
    4  7-A to read as follows:
    5                                 ARTICLE 7-A
    6               NORTHERN NEW YORK POWER PROCEEDS ALLOCATION ACT
    7  SECTION 197-A. DEFINITIONS.
    8          197-B. THE NORTHERN NEW YORK POWER PROCEEDS ALLOCATION BOARD.
    9          197-C. GENERAL POWERS AND DUTIES OF THE BOARD.
   10    S 197-A. DEFINITIONS. FOR THE PURPOSES OF THIS ARTICLE, THE  FOLLOWING
   11  TERMS SHALL HAVE THE FOLLOWING MEANINGS:
   12    1. "AUTHORITY" IS THE POWER AUTHORITY OF THE STATE OF NEW YORK.
   13    2.  "AUTHORITY-TMED CONTRACT" REFERS TO A CERTAIN CONTRACT BETWEEN THE
   14  AUTHORITY AND THE TOWN OF MASSENA ELECTRIC DEPARTMENT, ENTITLED  "AGREE-
   15  MENT  GOVERNING THE SALE OF ST. LAWRENCE-FDR PROJECT POWER AND ENERGY TO
   16  THE  TOWN  OF  MASSENA  ELECTRIC  DEPARTMENT  FOR  ECONOMIC  DEVELOPMENT
   17  PURPOSES,"  EXECUTED  AND  DATED BY THE AUTHORITY ON OCTOBER EIGHTEENTH,
   18  TWO THOUSAND TWELVE, AND THE ASSOCIATED AUTHORITY SERVICE TARIFF  ISSUED
   19  AND EFFECTIVE AUGUST TWENTY-FIRST, TWO THOUSAND TWELVE.
   20    3.  "BOARD"  IS  THE NORTHERN NEW YORK POWER PROCEEDS ALLOCATION BOARD
   21  CREATED BY THIS ARTICLE.
   22    4. "BENEFITS" OR "FUND BENEFITS" ARE PAYMENTS TO  ELIGIBLE  APPLICANTS
   23  SELECTED  BY  THE AUTHORITY FOR THE PURPOSE OF FUNDING ELIGIBLE PROJECTS
   24  WITH MONIES DERIVED FROM NET EARNINGS THAT HAVE BEEN DEPOSITED INTO  THE
   25  NORTHERN  NEW YORK ECONOMIC DEVELOPMENT FUND BY THE AUTHORITY IN ACCORD-

        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD12090-02-4
       A. 10093--A                         2

    1  ANCE WITH SUBDIVISION TWENTY-FOUR OF SECTION ONE THOUSAND  FIVE  OF  THE
    2  PUBLIC AUTHORITIES LAW.
    3    5.   "ELIGIBLE  APPLICANT"  MEANS  A  PRIVATE  BUSINESS,  INCLUDING  A
    4  NOT-FOR-PROFIT CORPORATION.
    5    6. "ELIGIBLE PROJECTS" ARE ECONOMIC DEVELOPMENT PROJECTS THAT  ARE  OR
    6  WOULD BE PHYSICALLY LOCATED WITHIN THE STATE OF NEW YORK IN ST. LAWRENCE
    7  COUNTY  THAT  WILL SUPPORT THE GROWTH OF BUSINESS IN ST. LAWRENCE COUNTY
    8  AND THEREBY LEAD TO THE CREATION OR MAINTENANCE OF JOBS AND TAX REVENUES
    9  FOR THE STATE AND LOCAL GOVERNMENTS. ELIGIBLE PROJECTS MAY INCLUDE CAPI-
   10  TAL INVESTMENTS IN BUILDINGS, EQUIPMENT, AND  ASSOCIATED  INFRASTRUCTURE
   11  (COLLECTIVELY, "INFRASTRUCTURE") OWNED BY AN ELIGIBLE APPLICANT FOR FUND
   12  BENEFITS;  TRANSPORTATION  PROJECTS  UNDER  STATE  OR FEDERALLY APPROVED
   13  PLANS; THE ACQUISITION OF LAND NEEDED FOR INFRASTRUCTURE;  RESEARCH  AND
   14  DEVELOPMENT  WHERE  THE  RESULTS  OF  SUCH RESEARCH AND DEVELOPMENT WILL
   15  DIRECTLY BENEFIT NEW YORK STATE; SUPPORT FOR TOURISM AND  MARKETING  AND
   16  ADVERTISING  EFFORTS  FOR  ST. LAWRENCE COUNTY TOURISM AND BUSINESS; AND
   17  ENERGY-RELATED PROJECTS. ELIGIBLE PROJECTS  DO  NOT  INCLUDE,  AND  FUND
   18  BENEFITS  MAY  NOT BE USED FOR, PUBLIC INTEREST ADVERTISING OR ADVOCACY;
   19  LOBBYING; THE SUPPORT OR OPPOSITION OF ANY CANDIDATE FOR PUBLIC  OFFICE;
   20  THE  SUPPORT  OR  OPPOSITION  TO ANY PUBLIC ISSUE; LEGAL FEES RELATED TO
   21  LITIGATION OF ANY KIND; EXPENSES RELATED TO  ADMINISTRATIVE  PROCEEDINGS
   22  BEFORE  STATE  OR LOCAL AGENCIES; OR RETAIL BUSINESSES AS DEFINED BY THE
   23  BOARD, INCLUDING WITHOUT LIMITATION, SPORTS VENUES, GAMING AND  GAMBLING
   24  OR  ENTERTAINMENT-RELATED  ESTABLISHMENTS,  RESIDENTIAL  PROPERTIES,  OR
   25  PLACES OF OVERNIGHT ACCOMMODATION.
   26    7. "ENERGY-RELATED PROJECTS, PROGRAMS AND  SERVICES"  SHALL  HAVE  THE
   27  SAME  MEANING  AS  SUCH TERM IS DEFINED IN SUBPARAGRAPH TWO OF PARAGRAPH
   28  (B) OF SUBDIVISION SEVENTEEN OF SECTION ONE THOUSAND FIVE OF THE  PUBLIC
   29  AUTHORITIES LAW.
   30    8.  "NET EARNINGS" IS THE AGGREGATE EXCESS OF REVENUES RECEIVED BY THE
   31  AUTHORITY FROM THE SALE OF ENERGY ASSOCIATED WITH  ST.  LAWRENCE  COUNTY
   32  ECONOMIC DEVELOPMENT POWER SOLD BY THE AUTHORITY IN THE WHOLESALE ENERGY
   33  MARKET  OVER WHAT REVENUES WOULD HAVE BEEN RECEIVED HAD SUCH ENERGY BEEN
   34  SOLD ON A FIRM BASIS UNDER THE TERMS OF THE AUTHORITY-TMED CONTRACT.
   35    9. "NORTHERN NEW YORK ECONOMIC DEVELOPMENT FUND" OR "FUND" IS  A  FUND
   36  OF  THE AUTHORITY INTO WHICH NET EARNINGS ARE DEPOSITED BY THE AUTHORITY
   37  IN ACCORDANCE WITH SUBDIVISION TWENTY-FOUR OF SECTION ONE THOUSAND  FIVE
   38  OF  THE  PUBLIC AUTHORITIES LAW AND FROM WHICH ALLOCATIONS OF FUND BENE-
   39  FITS TO ELIGIBLE PROJECTS MAY BE MADE BY THE AUTHORITY.
   40    10. "ST. LAWRENCE COUNTY ECONOMIC DEVELOPMENT POWER" MEANS FIRM HYDRO-
   41  ELECTRIC ENERGY PRODUCED BY THE AUTHORITY'S ST. LAWRENCE  POWER  PROJECT
   42  THAT  THE  AUTHORITY  HAS  MADE AVAILABLE FOR ALLOCATION AND SALE TO THE
   43  TOWN OF MASSENA ELECTRIC DEPARTMENT FOR  RESALE  AND  SUB-ALLOCATION  TO
   44  QUALIFIED END USERS PURSUANT TO THE AUTHORITY-TMED CONTRACT.
   45    S  197-B.  THE  NORTHERN  NEW YORK POWER PROCEEDS ALLOCATION BOARD. 1.
   46  THERE IS HEREBY CREATED THE NORTHERN NEW YORK POWER PROCEEDS  ALLOCATION
   47  BOARD,  WHICH  SHALL POSSESS THE POWERS AND DUTIES HEREIN SPECIFIED. THE
   48  BOARD SHALL CONSIST OF FIVE MEMBERS WHO SHALL BE APPOINTED BY THE GOVER-
   49  NOR AS FOLLOWS: ONE OF WHOM SHALL BE APPOINTED UPON  THE  RECOMMENDATION
   50  OF  THE TEMPORARY PRESIDENT OF THE SENATE AND RESIDE WITHIN ST. LAWRENCE
   51  COUNTY, ONE OF WHOM SHALL BE APPOINTED UPON THE  RECOMMENDATION  OF  THE
   52  SPEAKER  OF  THE  ASSEMBLY AND RESIDE WITHIN ST. LAWRENCE COUNTY, AND AT
   53  LEAST ONE ADDITIONAL MEMBER WHO SHALL RESIDE WITHIN ST.  LAWRENCE  COUN-
   54  TY.  THE  GOVERNOR  SHALL  DESIGNATE  A  CHAIR  FROM AMONGST THE BOARD'S
   55  MEMBERS.
       A. 10093--A                         3

    1    2. EACH MEMBER SHALL SERVE A TERM OF FIVE YEARS OR UNTIL  A  SUCCESSOR
    2  SHALL  HAVE  BEEN  NAMED  AND  QUALIFIED.  MEMBERS MAY BE REAPPOINTED TO
    3  SUCCESSIVE TERMS.
    4    3.  NOTWITHSTANDING  ANY OTHER PROVISION OF LAW TO THE CONTRARY, THREE
    5  MEMBERS SHALL CONSTITUTE A QUORUM FOR THE  PURPOSES  OF  ORGANIZING  THE
    6  BOARD AND CONDUCTING THE BUSINESS THEREOF. NO ACTION OF THE BOARD MAY BE
    7  TAKEN  EXCEPT  UPON  AN AFFIRMATIVE VOTE OF AT LEAST THREE-FIFTHS OF THE
    8  FULL BOARD MEMBERSHIP AT ANY MEETING AT WHICH AT LEAST THREE MEMBERS ARE
    9  PRESENT OR PARTICIPATING BY VIDEOCONFERENCING. VIDEOCONFERENCING MAY  BE
   10  USED FOR ATTENDANCE AND PARTICIPATION BY MEMBERS OF THE BOARD. IF VIDEO-
   11  CONFERENCING  IS  USED,  THE  BOARD SHALL PROVIDE AN OPPORTUNITY FOR THE
   12  PUBLIC TO ATTEND, LISTEN AND OBSERVE AT  ANY  SITE  AT  WHICH  A  MEMBER
   13  PARTICIPATES. THE PUBLIC NOTICE FOR THE MEETING SHALL IDENTIFY, IF PRAC-
   14  TICABLE, ALL LOCATIONS WHERE A MEMBER WILL PARTICIPATE IN THE MEETING BY
   15  VIDEOCONFERENCE  AND SHALL STATE THAT THE PUBLIC HAS THE RIGHT TO ATTEND
   16  THE MEETING AT ANY SUCH LOCATION.
   17    4. MEMBERS OF THE BOARD, EXCEPT THOSE THAT ARE EMPLOYEES  OR  OFFICERS
   18  OF  THE  STATE, ITS AUTHORITIES, OR AGENCIES, SHALL NOT RECEIVE A SALARY
   19  OR OTHER COMPENSATION, BUT SHALL BE ALLOWED  THE  NECESSARY  AND  ACTUAL
   20  EXPENSES INCURRED IN THE PERFORMANCE OF DUTIES UNDER THIS ARTICLE.
   21    S  197-C.  GENERAL  POWERS AND DUTIES OF THE BOARD. 1. THE BOARD SHALL
   22  ESTABLISH WRITTEN PROCEDURES RELATING TO THE ACTIVITIES  OF  THE  BOARD.
   23  THE  BOARD  SHALL  ALSO ESTABLISH PROCEDURES THROUGH WRITTEN POLICIES OR
   24  STANDARDS FOR REVIEWING APPLICATIONS FOR FUND BENEFITS AND  WHICH  SHALL
   25  PROVIDE FOR A REVIEW OF APPLICATIONS FOR FUND BENEFITS NO LESS FREQUENT-
   26  LY  THAN  TWICE EACH YEAR.  THE BOARD SHALL NOT MAKE ANY RECOMMENDATIONS
   27  FOR AN ALLOCATION OF FUND BENEFITS PRIOR TO ESTABLISHING THE  PROCEDURES
   28  PROVIDED FOR IN THIS SUBDIVISION.
   29    2.  THE  BOARD, OR A MEMBER DESIGNATED BY THE BOARD, SHALL RECEIVE ALL
   30  APPLICATIONS FROM, OR ON BEHALF OF, ELIGIBLE APPLICANTS FOR  FUND  BENE-
   31  FITS. APPLICATIONS SHALL BE IN A FORM AND CONTAIN SUCH INFORMATION, DATA
   32  AND  EXHIBITS  AS THE BOARD MAY PRESCRIBE AND TO WHICH THE AUTHORITY HAS
   33  CONSENTED.
   34    3. THE BOARD MAY REQUEST FROM THE AUTHORITY AN ANALYSIS OF ANY  APPLI-
   35  CATION  FOR  FUND  BENEFITS ALONG WITH ANY RECOMMENDATIONS, AND ANY SUCH
   36  ADDITIONAL INFORMATION AND ASSISTANCE AS IS REASONABLY NECESSARY FOR THE
   37  BOARD TO PERFORM ITS DUTIES.
   38    4. THE BOARD SHALL REVIEW APPLICATIONS SUBMITTED  FOR  FUND  BENEFITS.
   39  THE BOARD SHALL MAKE AN INITIAL DETERMINATION OF WHETHER THE APPLICATION
   40  IS  MADE  BY  AN ELIGIBLE APPLICANT AND PROPOSES AN ELIGIBLE PROJECT. IN
   41  THE CASE OF AN APPLICATION BY AN ELIGIBLE  APPLICANT  THAT  PROPOSES  AN
   42  ELIGIBLE  PROJECT,  THE  BOARD  SHALL  REVIEW  THE APPLICATION USING THE
   43  FOLLOWING CRITERIA:
   44    (I) WHETHER THE ELIGIBLE PROJECT WOULD OCCUR  IN  THE  ABSENCE  OF  AN
   45  AWARD OF FUND BENEFITS;
   46    (II)  THE EXTENT TO WHICH AN AWARD OF FUND BENEFITS WILL RESULT IN NEW
   47  CAPITAL INVESTMENT IN THE STATE BY THE ELIGIBLE APPLICANT AND THE EXTENT
   48  OF SUCH INVESTMENT;
   49    (III) OTHER ASSISTANCE THE ELIGIBLE APPLICANT MAY RECEIVE  TO  SUPPORT
   50  THE ELIGIBLE PROJECT;
   51    (IV)  THE  TYPE  AND COST OF BUILDINGS, EQUIPMENT AND FACILITIES TO BE
   52  CONSTRUCTED, ENLARGED OR INSTALLED IF THE  ELIGIBLE  APPLICANT  WERE  TO
   53  RECEIVE AN AWARD OF FUND BENEFITS;
   54    (V) THE ELIGIBLE APPLICANT'S PAYROLL, SALARIES, BENEFITS AND NUMBER OF
   55  JOBS  AT  THE  ELIGIBLE  PROJECT  FOR WHICH AN AWARD OF FUND BENEFITS IS
   56  REQUESTED;
       A. 10093--A                         4

    1    (VI) THE NUMBER OF JOBS THAT WILL BE CREATED OR  RETAINED  WITHIN  ST.
    2  LAWRENCE  COUNTY  AND  ANY  OTHER  PARTS OF THE STATE IN RELATION TO THE
    3  REQUESTED AWARD OF FUND BENEFITS, AND THE EXTENT TO WHICH  THE  ELIGIBLE
    4  APPLICANT  WILL  AGREE TO COMMIT TO CREATING OR RETAINING SUCH JOBS AS A
    5  CONDITION TO RECEIVING AN AWARD OF FUND BENEFITS;
    6    (VII) WHETHER THE ELIGIBLE APPLICANT IS AT RISK OF CLOSING OR CURTAIL-
    7  ING  FACILITIES  OR OPERATIONS IN ST. LAWRENCE COUNTY AND OTHER PARTS OF
    8  THE STATE, RELOCATING FACILITIES OR OPERATIONS  OUT  OF  ST.    LAWRENCE
    9  COUNTY  AND  OTHER PARTS OF THE STATE, OR LOSING A SIGNIFICANT NUMBER OF
   10  JOBS IN ST.   LAWRENCE COUNTY AND OTHER  PARTS  OF  THE  STATE,  IN  THE
   11  ABSENCE OF AN AWARD OF FUND BENEFITS;
   12    (VIII)  THE SIGNIFICANCE OF THE ELIGIBLE PROJECT THAT WOULD RECEIVE AN
   13  AWARD OF FUND BENEFITS TO THE ECONOMY OF THE AREA IN WHICH SUCH ELIGIBLE
   14  PROJECT IS LOCATED; AND
   15    (IX) FOR NEW, EXPANDED AND/OR REHABILITATED FACILITIES, THE EXTENT  TO
   16  WHICH  THE ELIGIBLE APPLICANT WILL COMMIT TO IMPLEMENT OR OTHERWISE MAKE
   17  TANGIBLE INVESTMENTS IN ENERGY EFFICIENCY MEASURES  AS  A  CONDITION  TO
   18  RECEIVING AN AWARD OF FUND BENEFITS.
   19    IN  ADDITION, THE BOARD SHALL CONSIDER THE EXTENT TO WHICH AN AWARD OF
   20  FUND BENEFITS WOULD BE CONSISTENT WITH THE STRATEGIES AND PRIORITIES  OF
   21  ANY  REGIONAL ECONOMIC DEVELOPMENT COUNCIL HAVING RESPONSIBILITY FOR THE
   22  REGION IN WHICH THE ELIGIBLE PROJECT WOULD BE LOCATED. THE BOARD IS ALSO
   23  AUTHORIZED TO SOLICIT THE VIEWS OF ORGANIZATIONS THAT HAVE  AN  INTEREST
   24  IN ECONOMIC DEVELOPMENT IN ST. LAWRENCE COUNTY REGARDING SUCH MATTERS AS
   25  PROPOSED  FUNDING  STRATEGIES  AND PRIORITIES, AND APPLICATIONS FOR FUND
   26  BENEFITS.
   27    5. THE BOARD SHALL ISSUE A  WRITTEN  STATEMENT  OF  ITS  FINDINGS  AND
   28  RECOMMENDATIONS FOR EACH APPLICATION REVIEWED.
   29    6.  THE  BOARD  MAY  RECOMMEND TO THE AUTHORITY THE ALLOCATION OF FUND
   30  BENEFITS TO ELIGIBLE APPLICANTS FOR ELIGIBLE PROJECTS  WHICH  THE  BOARD
   31  FINDS ARE CONSISTENT WITH THE APPLICABLE CRITERIA IN SUBDIVISION FOUR OF
   32  THIS  SECTION.  THE  BOARD MAY INCLUDE WITHIN ITS RECOMMENDATIONS RECOM-
   33  MENDED TERMS AND CONDITIONS, INCLUDING, BUT NOT LIMITED  TO,  REASONABLE
   34  PROVISION  FOR THE ALLOCATION OF FUND BENEFITS OVER TIME AS THE ELIGIBLE
   35  APPLICANT ACHIEVES MILESTONES TOWARDS PROJECT COMPLETION, THE PARTIAL OR
   36  COMPLETE WITHDRAWAL OR RETURN OF FUND BENEFITS WHERE THE  RECIPIENT  HAS
   37  FAILED  TO ACHIEVE OR MAINTAIN MUTUALLY AGREED UPON COMMITMENTS, OR SUCH
   38  OTHER TERMS AND CONDITIONS AS THE BOARD DEEMS ADVISABLE.
   39    7. A RECOMMENDATION BY THE BOARD THAT AN ELIGIBLE APPLICANT RECEIVE AN
   40  AWARD OF FUND BENEFITS SHALL BE A PREREQUISITE TO AN AWARD OF FUND BENE-
   41  FITS BY THE AUTHORITY. THE AUTHORITY SHALL AWARD  FUND  BENEFITS  TO  AN
   42  APPLICANT  UPON  A  RECOMMENDATION OF THE BOARD; PROVIDED, HOWEVER, THAT
   43  UPON A SHOWING OF GOOD CAUSE, THE AUTHORITY SHALL HAVE DISCRETION AS  TO
   44  WHETHER  TO  ADOPT THE BOARD'S RECOMMENDATION, OR TO AWARD BENEFITS IN A
   45  DIFFERENT AMOUNT THAN RECOMMENDED BY THE BOARD. IN ADDITION, THE AUTHOR-
   46  ITY SHALL BE AUTHORIZED TO ESTABLISH THE TERMS AND CONDITIONS THAT  WILL
   47  APPLY TO ANY AWARD OF FUND BENEFITS.
   48    8. ALLOCATIONS OF FUND BENEFITS SHALL ONLY BE MADE ON THE BASIS OF NET
   49  EARNINGS  THAT  HAVE  BEEN  DEPOSITED  IN THE NORTHERN NEW YORK ECONOMIC
   50  DEVELOPMENT FUND. NO AWARD OF FUND BENEFITS SHALL  ENCUMBER  FUTURE  NET
   51  EARNINGS  OR  NET  EARNINGS THAT HAVE BEEN RECEIVED BUT NOT DEPOSITED IN
   52  THE NORTHERN NEW YORK ECONOMIC DEVELOPMENT FUND.
   53    9. UPON MAKING AN ALLOCATION OF FUND BENEFITS, THE AUTHORITY SHALL  BE
   54  AUTHORIZED  TO ENTER INTO AN AGREEMENT WITH THE ELIGIBLE APPLICANT WHICH
   55  PROVIDES THE TERMS AND CONDITIONS THAT THE AUTHORITY DETERMINES WILL  BE
       A. 10093--A                         5

    1  APPLICABLE  TO THE AWARD OF FUND BENEFITS TAKING INTO ACCOUNT THE RECOM-
    2  MENDATIONS MADE BY THE BOARD.
    3    S 3. Section 1005 of the public authorities law is amended by adding a
    4  new subdivision 24 to read as follows:
    5    24.  (A)  FOR  PURPOSES OF THIS SUBDIVISION, THE TERMS "AUTHORITY-TMED
    6  CONTRACT", "ELIGIBLE PROJECT", "NET EARNINGS", "NORTHERN NEW YORK  POWER
    7  PROCEEDS ALLOCATION BOARD" AND "ST. LAWRENCE COUNTY ECONOMIC DEVELOPMENT
    8  POWER" SHALL HAVE THE MEANINGS ASCRIBED TO SUCH TERMS IN ARTICLE SEVEN-A
    9  OF THE ECONOMIC DEVELOPMENT LAW.
   10    (B)  THE  AUTHORITY SHALL BE AUTHORIZED TO COOPERATE WITH THE NORTHERN
   11  NEW YORK POWER PROCEEDS ALLOCATION BOARD, AND PROVIDE  SUCH  BOARD  WITH
   12  SUCH  INFORMATION  AND  ASSISTANCE, INCLUDING REASONABLE STAFF SERVICES,
   13  ACCOUNTING, CLERICAL  AND  SECRETARIAL  ASSISTANCE,  OFFICE  SPACE,  AND
   14  EQUIPMENT,  AS  THE  BOARD  REASONABLY  REQUESTS IN ORDER TO FULFILL ITS
   15  DUTIES UNDER ARTICLE SEVEN-A OF THE ECONOMIC DEVELOPMENT LAW.
   16    (C) THE AUTHORITY SHALL ESTABLISH AN ACCOUNT TO BE KNOWN AS THE NORTH-
   17  ERN NEW YORK ECONOMIC DEVELOPMENT FUND, WHICH SHALL  CONSIST  SOLELY  OF
   18  NET  EARNINGS. THE AUTHORITY, AS DETERMINED TO BE FEASIBLE AND ADVISABLE
   19  BY THE TRUSTEES, SHALL DEPOSIT NET EARNINGS INTO THE FUND NO  LESS  THAN
   20  QUARTERLY,  PROVIDED,  HOWEVER,  THAT  THE AMOUNT OF ST. LAWRENCE COUNTY
   21  ECONOMIC DEVELOPMENT POWER THAT MAY BE USED BY THE AUTHORITY TO GENERATE
   22  NET EARNINGS SHALL NOT EXCEED THE LESSER  OF  TWENTY  MEGAWATTS  OR  THE
   23  AMOUNT  OF  ST.  LAWRENCE COUNTY ECONOMIC DEVELOPMENT POWER THAT HAS NOT
   24  BEEN ALLOCATED BY THE AUTHORITY UNDER THE  AUTHORITY-TMED  CONTRACT  FOR
   25  SUB-ALLOCATIONS, AND PROVIDED FURTHER THAT BEGINNING FIVE YEARS FROM THE
   26  EFFECTIVE  DATE  OF  THIS SUBDIVISION, THE AMOUNT OF ST. LAWRENCE COUNTY
   27  ECONOMIC DEVELOPMENT POWER THAT MAY BE USED BY THE AUTHORITY TO GENERATE
   28  NET EARNINGS SHALL NOT EXCEED THE LESSER OF TEN MEGAWATTS OR THE  AMOUNT
   29  OF  ST.  LAWRENCE  COUNTY  ECONOMIC  DEVELOPMENT POWER THAT HAS NOT BEEN
   30  ALLOCATED BY THE AUTHORITY UNDER THE AUTHORITY-TMED CONTRACT FOR SUB-AL-
   31  LOCATIONS. AT LEAST FIFTEEN PERCENT OF NET EARNINGS PAID INTO  THE  FUND
   32  SHALL  BE  DEDICATED  TO  ELIGIBLE  PROJECTS  WHICH  ARE  ENERGY-RELATED
   33  PROJECTS, PROGRAMS AND SERVICES AS SUCH TERM IS DEFINED IN  SUBPARAGRAPH
   34  TWO  OF PARAGRAPH (B) OF SUBDIVISION SEVENTEEN OF THIS SECTION. IN ADDI-
   35  TION TO FUNDING ELIGIBLE PROJECTS, THE AUTHORITY MAY  USE  NORTHERN  NEW
   36  YORK  ECONOMIC  DEVELOPMENT  FUND  MONIES  TO COVER REASONABLE COSTS AND
   37  EXPENSES OF THE AUTHORITY RELATED TO THE MANAGEMENT  AND  ADMINISTRATION
   38  OF  THE  NORTHERN  NEW YORK POWER PROCEEDS ALLOCATION PROGRAM CREATED BY
   39  ARTICLE SEVEN-A OF THE ECONOMIC DEVELOPMENT LAW.
   40    (D) THE AUTHORITY IS HEREBY  AUTHORIZED  TO  ESTABLISH  PROCESSES  FOR
   41  APPLICATION  REVIEW  AND  ALLOCATION OF FUND BENEFITS, AND TO PROMULGATE
   42  SUCH RULES AND REGULATIONS AS IT DEEMS NECESSARY TO FULFILL THE PURPOSES
   43  OF THIS SUBDIVISION AND THE DUTIES ASSIGNED TO IT UNDER ARTICLE  SEVEN-A
   44  OF THE ECONOMIC DEVELOPMENT LAW.
   45    (E) THE AUTHORITY SHALL INCLUDE IN THE ANNUAL REPORT PREPARED PURSUANT
   46  TO  SUBDIVISION  EIGHTEEN OF THIS SECTION, AN ACCOUNTING FOR THE SUBJECT
   47  YEAR THAT PROVIDES THE AMOUNT OF ST. LAWRENCE COUNTY  ECONOMIC  DEVELOP-
   48  MENT  POWER SOLD INTO THE WHOLESALE MARKET BY THE AUTHORITY, AND THE NET
   49  EARNINGS PAID INTO THE NORTHERN NEW YORK ECONOMIC DEVELOPMENT FUND.
   50    S 4. This act shall take effect immediately.
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